Most people know they need a will, but estate planning is much broader than that. This quick assessment will help you identify which critical documents you might be missing, from healthcare directives to guardianship nominations.
Assess Your Readiness
Consider the following dimensions of your financial and personal life to see where your vulnerabilities lie.
Guardianship
If you have minor children, have you legally documented who would raise them if you couldn't?
Incapacitation
Who has the legal authority to access your bank accounts if you are in a coma?
Beneficiaries
Are the beneficiaries on your 401(k) and life insurance up to date?
Digital Assets
Does anyone know the passwords to your phone, email, and financial accounts?
Understanding Your Results
Based on your answers, you likely fall into one of three categories: No Plan, Basic Will Needed, or Trust Territory. Use this insight to prioritize your next steps.
Tip
Start Small
If you're overwhelmed, start by simply updating the beneficiary designations on your retirement accounts and life insurance policies. It takes 10 minutes and overrides a will.